Livesquawk picking up on an exclusive from Propertyweek.com
Government will use £2bn fund to buy homes that developers cannot sell
Will aim to speed up housing delivery and reduce construction risk
The fund comes as part of the Chancellors £5bn housing and construction fund initiative announced at the party conference. From that £2bn was to be allotted to making public land available with planning permission to home builders, and £3bn to provide loans for new building projects. This £2bn will be used as a way to guarantee that properties built are sold by developers.
I'm sure there's further details to emerge from this but I'm sceptical about measures to prop up one market, and one that can be so bubbly like housing. Plus, I don't think I even want to know where they'll be getting the money from to do it.
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